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Axie Infinity’s AXS token continues its impressive price movement, rising 42% to $13.06 over the past 24 hours. crypto slate data.
The positive price performance comes ahead of an imminent token unlock that will release 4.89 million new tokens (1.8% of the total supply of 270 million assets). unlock token.
Selling pressure first?
AXS is one of the best performing digital assets in the current market uptrend. Since the beginning of 2023, Play-to-Earn (P2E) tokens have risen about 80%, outpacing major digital assets such as Bitcoin (BTC) and Ethereum (ETH).
However, with the new token set to unlock later today, market analysts fear What this can cause sales pressure in assets.
Several market analysts have advised the community to trade with caution, while some analysts believe that unlocking short chance.
Felix Hartmann, Managing Partner at Hartmann Capital, said: Said:
Historically, the team has saved announcements of unlocks. I think people bought in anticipation of news of unlocks because the market has become so reflexive. Funding rate is around +0.03%. , meaning we are starting to see an imbalance of more longs than shorts.
Axie Infinity hits record low player count
Axie Infinity average player count drops to November 2020 low, according to Active Players data.
P2E games have about 100,000 live players, up from 432,000 last month. This is a sharp drop from his over 2 million players recorded between September 2021 and May 2022.
At the time, Axie’s popularity skyrocketed as players could earn a living through the game. However, once the earning potential was limited, players began to abandon it, and this situation was exacerbated when it was hacked in March 2022.
